CIBC Cuts European Residential Real Estate Investment Trust (TSE:ERE.UN) Price Target to C$1.25

European Residential Real Estate Investment Trust (TSE:ERE.UN) had its price objective trimmed by CIBC from C$3.00 to C$1.25 in a research note released on Monday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Separately, Raymond James Financial downgraded European Residential Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from C$3.00 to C$2.75 in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, European Residential Real Estate Investment Trust presently has an average rating of “Hold” and a consensus target price of C$1.57.

European Residential Real Estate Investment Trust Stock Performance

ERE.UN stock opened at C$1.06 on Monday. The company has a current ratio of 0.27, a quick ratio of 0.20 and a debt-to-equity ratio of 256.06. The firm has a market cap of C$98.71 million, a P/E ratio of -1.66 and a beta of 1.72. European Residential Real Estate Investment Trust has a 12-month low of C$0.98 and a 12-month high of C$3.99. The stock’s 50 day simple moving average is C$2.35 and its 200 day simple moving average is C$2.46.

About European Residential Real Estate Investment Trust

European Residential Real Estate Investment Trust – ERES is an unincorporated, open-ended real estate investment trust. ERES’s REIT units are listed on the TSX under the symbol ERE.UN. ERES is Canada’s only European-focused multi-residential REIT, with a current initial focus on investing in high-quality multi-residential real estate properties in the Netherlands.